State Bank Of India — Home loan interest being charged at whopping 11.75% even when Repo rate of RBI is 7.75%

I, Mukesh Sharma, had taken Home Loan amounting to Rs. 10, 00, 000.00 from SBI, Kashipur, Uttarakhand branch under the Scheme "BR-EASY HSG LOAN FLT" in the year 2010. My Account No. is [protected]. For the initial two years the rate of interest was fixed and since 2013, I am being charged interest at the rate of 11.75%. Initially since the REPO rate was high and the ROI of all the banks was almost that much, there was not an issue. But, since the past one year the REPO rate has declined considerably and the Home Loan interest of almost all banks has reduced accordingly ranging between 10.2 to 10.5%. It disgusting that since that time the SBI has not reduced its interest rate on our loan. The REPO Rate is again reduced by RBI by 0.25% and presently it is at 7.75%, and even now SBI is not at all interested in reducing the interest rate and is befooling its customers. Now I request SBI to investigate this matter and reduce the ROI on my loan with effect from Jan 2014 and provide me the benefit. regards, Mukesh Sharma [protected]